Embody, Inc., a Norfolk, Virginia based developer of an innovative collagen based microfiber implant called Tapestry designed for use in Achilles’ and rotator cuff repairs, raised $3.6M in funding.
The round was led by Genesis Innovation Group’s cultivate(MD) Capital Fund II, LP, a fund focused on investments into early stage healthcare companies with innovative technologies. In conjunction with the funding, Rob Ball, CEO of Genesis Innovation Group, will join Embody’s Board of Directors.
The company intends to use the funds for pre-launch and pre-commercial activities.
Led by Jeff Conroy, CEO, Embody is a regenerative medicine company focused on the development and commercialization of implantable medical devices. It has developed an innovative collagen based microfiber implant called Tapestry designed for use in Achilles’ and rotator cuff repairs, addressing a combined market exceeding 750,000 surgical cases in the U.S. annually. Tapestry’s design is based on research of collagen accelerating recellularization by growing new aligned tissue over surgical repairs.
Embody previously received $12.1m in DARPA funding and an R&D contract, which has funded product development.
FinSMEs
08/03/2019